Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Sponsored 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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China’s economy grows 4.6% in Q3 amid property downturn
China’s economy experienced a marginally better-than-expected growth in the third quarter, according to data released today. However, the persistent property downturn and weak consumer spending continue to weigh heavily on economic activity, compelling policymakers to contemplate further stimulus measures to invigorate growth. The world’s second-largest economy expanded by 4.6% year-on-year in the July-September period, surpassing the 4.5% forecast in a…
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CIMB Thai Bank targets 200 billion baht in sustainability loans
CIMB Thai Bank (CIMBT) aims to capitalise on the burgeoning demand for sustainability-linked loans, projected to be worth 200 billion baht (US$6 billion) among major local corporate clients within the next two years, particularly targeting the oil, gas, and energy sectors. Jason Lee, CIMBT’s head of sustainability, projects that around 300 large Thai corporations will seek transition financing over this…
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Thailand, US bolster trade ties with focus on high-tech investments
Commerce Minister Pichai Naripthaphan and US Ambassador Robert F. Godec yesterday engaged in discussions focusing on trade tariffs and investment in high-tech sectors, aiming for strategic alignment. During their meeting yesterday, October 17, Pichai emphasised that the talks were crucial for establishing a strategic partnership and bolstering economic ties between Thailand and the US, enhancing both bilateral and investment relations.…
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Gearing down: Thai auto parts makers face shock as EVs speed ahead
Thai auto parts manufacturers for internal combustion engine (ICE) vehicles face significant disruption due to the rising popularity of electric vehicles (EVs), according to Tru Automotive, a supplier of auto parts under the TRW brand. Pornsak Ariyapongpairoj, Managing Director of Tru Automotive, stated that sales of parts for ICE cars are expected to decline as EV makers do not use…
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All aboard: Vietnam charts a 7.2 billion baht track to China
Vietnam announced an estimated cost of 179 trillion dong (US$7.2 billion) to build a new railway connecting it with China‘s Yunnan province. The proposed 427-kilometre railway will traverse from Lao Cai province, through Hanoi, and extend to the port city of Haiphong and Ha Long City, according to the Vietnam News Agency. The country is actively pursuing the upgrade of…
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Billion-baht investment boosts Pattaya’s Terminal 21 mall
The bustling beachside retreat of Pattaya is about to see its shopping scene taken to new heights. Land and Houses (LH), one of the country’s largest property developers, announced a massive 5.7 billion baht investment in its Terminal 21 Pattaya shopping mall, proving that the city’s economic potential is glowing as bright as its beaches. Terminal 21 Pattaya, which opened…
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High-end hotels check in higher rates amid rising tourist numbers
High-end hotel operators are poised to increase room rates during the High Season as tourist numbers are anticipated to rise in the coming months, while mid-tier and lower-tier hotels continue to face challenges. The hotel operator sentiment index reveals this trend. Thienprasit Chaiyapatranun, President of the Thai Hotels Association (THA), reported that the average occupancy rate in September was 55%,…
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Cash ‘n’ climb: Thailand GDP rises but 2026 could be a steep drop
Thailand’s GDP forecast has been upgraded for this year and next to 2.8% and 3%, respectively, due to the government’s cash handout boosting the economy. However, analysts warn of an economic cliff in 2026 if no new growth engines are introduced. Kiatnakin Phatra Research (KKP) and BofA Global Research have both raised their Thai GDP outlooks for 2024 from 2.6%…
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Powering on: Thailand energy plan sparks a 2.9 trillion baht boost
Thailand’s new National Energy Plan (NEP) aims to drive significant investment and promote clean energy, with a projected 2.9 trillion baht in capital spending over the next 13 years. Central to this initiative is the emphasis on solar energy to reduce carbon dioxide emissions. The NEP 2024, scheduled for implementation from this year until 2037, integrates a comprehensive power development…
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Sky’s the limit: TC Space Connect orbits to victory in satellite bid
The National Broadcasting and Telecommunications Commission (NBTC) has selected TC Space Connect, a subsidiary of Thaicom, as the winning bidder for the two remaining satellite orbit packages. This decision follows an extensive review by the bid selection committee, which concluded that TC Space Connect was the sole contender for the licences. NBTC’s timeline was slated yesterday, October 16, for finalising…
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Nok Air takes off again: Ready to ‘baht’ back in business
Nok Air is plotting a major comeback, with a 5 billion baht cash injection on the cards for 2025. The Thai low-cost airline, which entered business rehabilitation in 2021, is now eyeing an exit in 2026, as CEO Wutthiphum Jurangkool outlines a path to financial recovery. In an interview with Bangkok Business, Wutthiphum revealed the funds will be used to…
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Thailand’s stock market sees a ‘baht’ of foreign interest
Foreign investors have increased their holdings of Thai shares by 1.37% in the first eight months of 2024, reaching a total of 5.18 trillion baht, based on data from the Stock Exchange of Thailand (SET). This rise highlights the growing interest in the technology, financial, and services sectors. By August 2024, foreign investors held over 5.18 trillion baht (US$155 billion)…
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Tax exemption for corporate insurance payouts amid flood recovery
The Cabinet has sanctioned a tax exemption for corporate income derived from insurance payouts for policyholders impacted by this year’s floods. Government spokesman Jirayu Houngsub announced after the Cabinet meeting that companies in flood-affected areas with insurance coverage against floods will have their insurance payouts exempted from income tax, as per the Finance Ministry’s directive. For business operators needing loans…
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Commerce Ministry launches economic recovery plan to aid SMEs
The Commerce Ministry is collaborating with government agencies in Thailand to roll out a nationwide economic recovery initiative over five months, aimed at assisting small businesses, easing expenses, and reducing the cost of living. Commerce Minister Pichai Naripthaphan convened with over 150 representatives from private sector organisations to jointly launch the project. The discussions incorporated cooperation from both public and…
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Brick by brick: ONEAM builds investor excitement with TIREIT launch
ONE Asset Management (ONEAM) is digging foundations in the investment world, launching the Thai Industrial Real Estate Investment Trust (TIREIT) for investors seeking fresh opportunities amidst a shifting financial landscape. With high interest rates finally shifting into the rear-view mirror, savvy investors are turning to alternative assets like TIREIT to spread their risk. Chief executive Pote Harinasuta has revealed that…
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KBank ‘assets’ itself with new ventures amid rising NPLs
Kasikornbank (KBank) is shaking things up and eyeing new profits by tackling its bad assets head-on via joint venture asset management companies (JV-AMCs), as non-performing loans (NPLs) climb higher across the banking scene. Rungruang Sukkirdkijpiboon, KBank’s co-President, spilt the beans that the bank is launching a fresh JV-AMC in partnership with Bangkok Commercial Asset Management (BAM), adding to its current…
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Fuel’s gold: Bangchak to fry high with sustainable jet fuel from cooking oil
Bangchak Corporation, one of the big dogs on the Stock Exchange of Thailand (SET), is turbocharging its efforts to collect used cooking oil, aiming to transform it into sustainable jet fuel (SAF) by next year—a first-class upgrade for greener skies. BSGF, Bangchak’s SAF-producing brainchild, has penned a memorandum of understanding (MoU) with New Biodiesel to scoop up used cooking oil…
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Thai execs ‘gen’-erate buzz, placing big bets on AI for success
In a bold business move, executives in Thailand are betting big on generative artificial intelligence (GenAI), catapulting it to the top of their corporate agendas, reveals a sizzling study by global CRM giant Salesforce. Amidst economic turbulence, Siddharth Rastogi, Salesforce’s vice-president for the ASEAN, insists it will work. “We’ve got the magic mix for AI adoption, thanks to the nation’s…
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Bank of Thailand to keep rates steady amid US Fed caution
Analysts predict the Bank of Thailand will maintain its policy rate during its meeting tomorrow, citing a recovering domestic economy and potential changes in US Federal Reserve interest rate cuts if inflation revives. Chaiyot Jiwangkul, head of research at Krungsri Securities (KSS), attributed the economic rebound to increasing tourist arrivals, government budget disbursements, and a 10,000-baht (US$300) cash handout to…
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Thailand to explore new tax system for ageing population
Thailand must urgently adjust its tax structure and increase tax participation to address future expenses related to its ageing population, according to Deputy Finance Minister Julapun Amornvivat. The Finance Ministry is exploring a negative income tax (NIT) system to assist individuals with incomes below a government-set threshold. Julapun clarified that the goal is to ensure residents can sustain their livelihoods,…
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Rain check: Hua Hin and Cha-am tourism ready for holiday splash
Heavy rain in Hua Hin and Cha-am are anticipated to impact tourism during the upcoming three-day holiday, potentially worsening domestic sentiment. The Tourism Authority of Thailand (TAT) identified natural disasters as a critical factor to monitor during the high season. Earlier this week, continuous rainfall led to flooding in Cha-am, Hua Hin, and parts of Phetkasem Highway, with water levels…
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Stocking up: Thai market on a roll with Vayupak, ESG fund boost
Thai stocks are poised for continued growth in the fourth quarter, driven by incremental investments in the state-run Vayupak Fund and tax-saving Thai ESG funds, according to the Stock Exchange of Thailand (SET). SET President Asadej Kongsiri revealed that retail investor participation has surged, now accounting for 52% of trades, up from just under 50% in the preceding months. An…
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Economists urge Bank of Thailand to maintain independence
Economists are urging the Bank of Thailand to maintain its independence, emphasising its importance for the nation’s economic stability and growth. Nonarit Bisonyabut, a research fellow at the Thai Development Research Institute, pointed out that globally, countries with autonomous central banks tend to achieve better economic stability, lower inflation, and stronger economic growth compared to those where central banks lack…
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Don’t ban TEMU: Thai experts call for enhanced trade standards
Thailand should embrace trade opportunities with China rather than follow Indonesia’s lead in banning the Chinese e-commerce platform TEMU, say experts. In light of Indonesia’s recent decision to prohibit the TEMU application, the International Institute for Trade and Development (ITD) voiced its opposition to a similar move by Thailand. Wimol Pankong, Deputy Director (Academic) of ITD, urged the Thai government…
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Thailand’s tourism confidence index drops amid floods, economy
Thailand’s tourism confidence index for the third quarter saw a significant drop year-on-year, remaining below the benchmark due to challenges such as factory closures, rising unemployment, increasing non-performing loans, and severe flooding both domestically and internationally, according to the Tourism Council of Thailand (TCT). The TCT has scheduled a meeting with the Tourism Authority of Thailand‘s board chairman tomorrow to…
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5 tips for a professional headshot
A professional headshot is more than just a photo – it’s an important tool for making a strong impression in the digital world. But if you’ve never had a professional headshot taken, the thought of getting one might intimidate you a little bit. Here are five tips to help you capture a headshot that shows you in your best light…
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Power play: B.Grimm sets sights on electrifying China and Greece
B.Grimm Power appears to be on a mission to take over the global energy scene, with China and Greece now in its sights. The Thai energy giant is exploring renewable projects in these two countries, aiming to add several hundred megawatts to its portfolio. CEO Harald Link teased the plans but kept most details under wraps, stating that talks were…
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Thai Vietjet’s foreign pilot plan under scrutiny by AirAsia executive
The Airlines Association of Thailand (AAT) deemed Thai Vietjet’s request to allow foreign pilots to fly domestic routes via a wet lease arrangement as acceptable, citing its temporary nature. However, an AirAsia executive has expressed strong opposition to this proposal. AAT President Puttipong Prasarttong-Osoth says he sees the wet lease arrangements as a win-win situation, as airlines can temporarily increase…
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Thailand eyes higher inflation target to push for rate cut
Sources familiar with the discussions have revealed that Thailand’s Finance Ministry plans to propose an increased inflation target of 1.5% to 3.5% for the coming year. This move is likely to exert additional pressure on the central bank to lower its key interest rate. Talks between the Finance Ministry and the Bank of Thailand (BoT) to finalise this new price…
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Green dreams: EU-ASEAN leaders forge path to eco-future
Top EU-ASEAN business leaders and cooperation agencies came together for a high-powered Partners’ Dialogue forum to tackle the opportunities and challenges of ASEAN’s green transition. The event was hosted by none other than the European Union’s Ambassador, H.E. Sujiro Seam. Representatives from EU-ASEAN institutions, member states, businesses, and cooperation agencies gathered to share insights and experiences on ASEAN’s journey towards…
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